brip blap - Latest Comments in what has changed in personal finance?

Re: what has changed in personal finance?

fathersez — Sun, 07 Dec 2008 05:33:39 -0000

At last, soothing voice in this environment of gloom and doom. The principles remain the same. The environment may have changed, as it always will. But the principles will remain.

Cheers

Re: what has changed in personal finance?

Andy @ Retire at 40 — Sat, 15 Nov 2008 07:25:07 -0000

You're so right and of course, it doesn't matter who is in government, for how long, what the economy looks like or whatever else happens, you are in control of your own destiny. Many points like you made above are valid at any time and at any stage of your life.

Re: what has changed in personal finance?

CreditHelper — Thu, 13 Nov 2008 10:35:07 -0000

"Earn more money than you spend"... :)

I have followed this all my life. Helps that way. Its another thing that i am not always successful with it. ;)

Credit levels have changed for sure.

Peace.

Re: what has changed in personal finance?

Steve — Tue, 11 Nov 2008 10:31:57 -0000

Earn more than you spend, yes :) At the same time, it never hurts to avoid spending more than you earn. And you're exactly right - people who are in "the right place" career/industry/lifestyle-wise, even in bad times, will always do well.

Re: what has changed in personal finance?

flavored Coffee — Sun, 09 Nov 2008 02:35:47 -0000

I wouldn’t recommend watching this unless you’re happy about last Tuesday.

Re: what has changed in personal finance?

Curmudgeon — Sat, 08 Nov 2008 12:16:25 -0000

>> You still have to spend less than you earn.

Excuse me, Steve. Earn more than you spend, right? :)

It has been an interesting year. Over a million jobs lost, yet I've acquired a new job with a substantial pay raise, and just got promoted from that job. My wife started her first job in a new career field after a long midlife career change process. Despite the macro environment, everyone's circumstance is unique, and opportunity is still there, if a little more difficult to identify. Despite anything that might happen in politics, the US remains the land of hope and opportunity.

Re: what has changed in personal finance?

Mary@SimplyForties — Sat, 08 Nov 2008 11:11:37 -0000

Excellent, excellent post. Thank you for a calm and sensible mind in the midst of a lot of hyperbole from both sides.

Re: what has changed in personal finance?

CraigK — Fri, 07 Nov 2008 10:00:21 -0000

There is a lot more dependence place on people today's about their future and educational needs. In some aspects that hurts, and the fact that one salary most likely can't support a family anymore. But I agree that people tend to try to live outside of their means and with increased technology, it becomes harder. People just need to take responsibility for themselves more.

Craig
www.budgetpulse.com

Re: what has changed in personal finance?

deepali — Fri, 07 Nov 2008 09:34:13 -0000

i both agree and disagree - the fundamentals of success haven't changed, and you summed them up so well here. But as I've said on other blogs and also on my own, that while the things we need to do as individuals hasn't changed, our environment has. And when your environment conspires against you, or supports you, your actions can have different results. But now I think there is a sense that anything is possible, and these things that seemed so "hard" (ie, spending less than you earn) don't seem so hard anymore.

Re: what has changed in personal finance?

guinness416 — Fri, 07 Nov 2008 08:54:05 -0000

Interesting discussion on that very issue over at mefi, plonkee (I'm jamesonandwater over there):

http://ask.metafilter.com/1...

Re: what has changed in personal finance?

guinness416 — Fri, 07 Nov 2008 08:52:22 -0000

Heh, "like the whole country had won the world series" is a great description of the images I saw on tv. FWIW, there was a fair amount of dancing up here too (and TO has actually won the series more recently than some of the yank teams!).

I wish more of your fellow bloggahs accepted the interrelated thing, brip blap.

Re: what has changed in personal finance?

plonkee — Fri, 07 Nov 2008 08:10:30 -0000

I think the second point is the most important. If you're blaming high taxes for your own failure, you were doing it wrong in the first place.

Besides which if you really hate it, vote with your feet and move countries.

Re: what has changed in personal finance?

LS — Fri, 07 Nov 2008 07:51:51 -0000

Ha, I wouldn't say everyone "was sober and orderly". At least in NY people were celebrating hard and had a few ;o)

Re: what has changed in personal finance?

l@spillingbuckets — Fri, 07 Nov 2008 07:40:02 -0000

A lot of my friends have gotten swept up with the moment, with both good and bad reactions, and have started to alter their habits. Either thinking that everything is fixed now or thinking that we need to pull out before it all goes down the drain. I've been trying to tell them that the basics don't change at all but they are wrapped up in the rhetoric and don't see it.

Great post - you said it very well, and I agree 100%.

Re: what has changed in personal finance?

Writer's Coin — Fri, 07 Nov 2008 06:59:05 -0000

Good reminder that the basics and the essentials still apply. Nothing has changed on our end and it's likely nothing will. I also share your optimism about the future president and I think it's amazing to see how other people are also feeling so euphoric about it. When I saw video of people crying and cheering in the streets, it was like the whole country had just won the World Series only everyone was sober and orderly.